Altair Engineering’s (ALTR) Market Perform Rating Reaffirmed at William Blair

William Blair reaffirmed their market perform rating on shares of Altair Engineering (NASDAQ:ALTR) in a report published on Thursday morning, MarketBeat reports.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research note on Wednesday, October 23rd. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their target price for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a report on Monday, July 15th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Friday, August 2nd. Finally, Rosenblatt Securities raised their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Stock Performance

Shares of Altair Engineering stock traded up $0.14 on Thursday, hitting $104.13. 316,376 shares of the company’s stock were exchanged, compared to its average volume of 508,298. The company has a 50-day simple moving average of $94.03 and a 200-day simple moving average of $91.38. The stock has a market capitalization of $8.84 billion, a PE ratio of 273.67, a PEG ratio of 13.87 and a beta of 1.45. Altair Engineering has a 1 year low of $57.59 and a 1 year high of $113.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. Altair Engineering had a net margin of 5.10% and a return on equity of 7.70%. The company had revenue of $151.45 million for the quarter, compared to analysts’ expectations of $146.55 million. As a group, equities analysts anticipate that Altair Engineering will post 0.65 EPS for the current year.

Insider Buying and Selling

In related news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $1,333,670.00. Following the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $13,751,676.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $1,333,670.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $13,751,676.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $578,760.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 360,360 shares of company stock worth $35,476,660. 21.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently made changes to their positions in ALTR. Blue Trust Inc. increased its stake in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after buying an additional 246 shares during the period. GAMMA Investing LLC boosted its stake in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the period. FSC Wealth Advisors LLC boosted its stake in Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp boosted its stake in Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after purchasing an additional 311 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Altair Engineering during the 1st quarter worth $177,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.